Europe > Northern Europe > Lithuania


Capital: Vilnius; GDP growth (annual %) 2016: 2.3%;
Key Facts

Full name: Republic of Lithuania
Population: 3.3 million (UN, 2011)
Area: 65,300 sq km (25,212 sq miles)
Languages: Lithuanian (official), Russian, Polish, Belarusian
Major religion: Christianity
Life expectancy: 67 years (men), 78 years (women) (UN)
Monetary unit: 1 Lithuanian litas = 100 centas
Main exports: Textiles, clothing, fertilisers, industrial machinery
GNI per capita: US $12,280 (World Bank, 2011)
Internet domain: .lt
International dialling code: +370

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  • Lithuania looks towards steadier growth


    Next a deep recession and housing bust in 2008 and a number of subsequent corporate governance crises, Lithuanian banks are finally returning to a steady footing, helped in no small measure by the presence of risk-averse Scandinavian lenders in the country.

  • Outlook for 2013-17


    The country (Lithuania) is situated in Eastern Europe, bordering the Baltic Sea, between Latvia and Russia. it has borders with Belarus for 660km, Latvia for 576km, Poland for 103km and Russia for 273km.
    Land in Lithuania is lowland, a lot of scattered small lakes, fertile soil.The climate is transitional, between maritime and continental; wet, moderate winters and summers.
    (official) 82%, Russian 8%, Polish 5.6%, other and unspecified 4.4%


    Owing mainly to the slow increase outlook for western Europe, The Economist Intelligence Unit forecasts annual average increase of just 3.3% in 2013-17. Inflation has fallen substantially in 2013, reflecting lower food and import prices. Price increase will accelerate modestly from 2014. The current-account deficit narrowed in 2012, but will widen gradually over the estimate period as domestic request improves.